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Although it’s not covered in our text, one useful tool to measure performance is the Balanced Scorecard. This performance measurement framework was developed by Drs. Robert Kaplan and David Norton to incorporate customer, learning/growth, and business process metrics into traditional financial reporting measures. As a result, it provides a useful tool to assess both organizational and process quality.
After you have conducted research into what a balanced scorecard is (a good starting point is to tap into the resources provided by the Balanced Scorecard Institute:balancedscorecard.org), write a 2–3 page paper that addresses the following questions:
- Explain the four individual components of a balanced scorecard, what they tell us about the four individual areas when looked at individually, and what they tell us about the overall organization when they are combined.
- Discuss how each of the four areas can be used to measure the quality of an organization’s operations.
Use a minimum of three resources (not counting the book or Wikipedia) and properly cite those references in your paper.
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